Japan’s Renesas in Talks to Buy Chipmaker Maxim For up to $20 Billion: Report

Japanese automotive chipmaker Renesas Electronics Corp is in talks to acquire U.S. chipmaker Maxim Integrated Products in a deal that could be valued up to $20 billion, CNBC reported. A deal is not imminent and one may not happen, CNBC said. A spokesman at Renesas declined to confirm or deny the report, saying the company continues to explore various options for growth but that nothing had been decided.

Also read: NASA Attempts to Contact Long-Lost Satellite

Maxim was not immediately available for comment. Shares in the San Jose, California-based company ended up 12.3 percent at $66.27 on the Nasdaq on Monday after the report. In 2016, Renesas beat out rival suitor Maxim in a deal to buy U.S. chipmaker Intersil Corp for $3.2 billion, an all-cash deal that bolstered the Japanese group’s efforts to refocus the company around automotive chips.

Renesas, created from the semiconductor units of several Japanese companies, has amassed a significant war chest since a state fund and key clients bailed it out after the Fukushima earthquake in 2011.

Watch: Smartron t.phone P Review | A Tough Budget Player With a Massive Battery